The Nation’s Leader Prime Minister Gaston Browne has defended his administration’s economic policy out rightly debunking claims that his Government’s move toward entrepreneurial socialism is a move to communism.
Speaking on Observer’s Big Issues over the weekend, Prime Minister Gaston Browne spoke out in defense of the economic model and said that it simply promotes a business friendly economy.
He says that it is in no way a move towards fascism or communism, but simply a move toward a more equitable distribution of profits to lessen the prevalence on income inequality in the twin island state.
PM Browne listed the many benefits of the economic model stating that it encourages public ownership and shared profits, but notes that it is still largely a capitalist construct.
The Nation’s Leader says that the Government’s acquisition of West Indies Oil is a prime example of entrepreneurial socialism at work in Antigua and Barbuda, as the Government purchased a majority stake in the private entity in order to gain additional revenue to benefit people.
The Prime Minister says that Antigua and Barbuda needs to be inventive with its economic strategies and find what works best to develop the country.